Property News

Russians overtake Brits as biggest buyers in Alicante

Russians have overtaken Brits as the biggest buyers of holiday homes in the region of Alicante in Spain according to new figures published this week.

According to Jesualdo Ros, head of the regional developers’ trade body, the majority of homes bought by foreigners in Alicante in August were Russian. The British have fallen behind Scandinavian, Dutch and Belgian buyers says Ros.

Figures from the Fuente Colegio de Registradores published in August showed the number of Russian buyers in the whole of Spain was up 19% on 2010. However, in absolute terms, the number of Russian purchasers still lags British buyers by a factor of nearly three to one. Russians were the fourth most prevalent group after British, German and French buyers.

Ros reports that Russian buyers in Alicante are currently buying both high-end developments at the top of the market and bargain basement deals at the lower end.

Editor’s note

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